The Ghana Revenue Authority (GRA) has outlined new e-levy charges after the full implementation of the e levy.
The full implementation provides a common platform that will capture all transactions to allow for e-levy charges without loopholes.
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The Earlier Implementation
- Prior to the full implementation of the E-Levy, customers were allowed to enjoy some exemptions such as a customer having two different accounts were able to enjoy exemption if they sent GH₵100 twice using different accounts own by the same person.
- However, with the full implementation of the E-Levy, there would be no such exemptions.
New E-levy Charges After Full Implementation
A member of the e-levy implementation committee, Isaac Amoako explained some of the new charges as follows:
- Once the common platform is operating functionally and fully when you send the first GH₵100 there are no charges however subsequent amounts sent within the same day from same wallets or accounts owned by the same person either on different networks would be charged.
- The second one is that now when you send to a number or an account you own and you have updated both numbers with the Ghana card then you do not get to pay charges, however if you have not linked your Ghana card then you will be charged.
- For those who operate as merchants, if the merchant is not registered with the GRA for income tax or VAT, then e-levy is going to be charged
Will E-Levy Be Cancelled After IMF Bailout
- The Finance Ministry in a statement seeking to address some frequently asked questions on Ghana’s move to seek support from the IMF noted that the E-Levy will not be terminated despite the move to seek financial assistance from the IMF.
- In answering the question on “Will government terminate the E-Levy because IMF will give Ghana money?” The Finance Ministry responded with the following statement:
- “NO. The IMF lending to Ghana will be for the balance of payments support to shore up the international reserves. The government is committed to ensuring the operationalization of all taxes including the e-levy to ensure that in addition to the IMF’s resources, the government can continue to support its developmental goals on its own while ensuring that the tax-to-GPD ratio increases to the peer range of 16%-18%.“
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